Fastned triples revenues in 2016

Charging company publishes annual report over 2016.

Amsterdam, 9 March 2017. Fastned, which is building a European fast charging network where all electric cars can charge, has again shown rapid growth in the last year. In 2016, revenues tripled to EUR 227.613. A total of 460.783 kWh was charged at Fastned stations by 3.177 active customers. Fastned now has 57 stations.

The rapid growth was due to more customers charging more kWh at more Fastned stations. This resulted in more charging sessions per station. The strong autonomous growth proves Fastned is increasingly relevant to EV drivers, because of national network coverage, reliable service and transparent, competitive pricing.

Fastned continues to invest in the expansion of its network in The Netherlands and abroad. These investments contributed to a loss of EUR 5 million, of which EUR 2 million was non cash (depreciation and converted interest). The loss is caused by Fastned investing in charging stations ahead of the market to be ready for the next generations of electric cars.

In 2016, the number of full electric cars on Dutch roads increased from 9,368 to 13,105, an increase of 40% compared to 2015. Fastned grew with 258%, outperforming the market by a factor of 7. For more and more EV drivers fast charging at Fastned has become a regular part of their routine.

Michiel Langezaal, CEO Fastned: “The car market is now really in transition and drivers can choose between ever more EVs with better range. The Dutch government has committed to full electric mobility. From January 1st, business lease taxation on full EVs is 4% versus 22% for all other cars. Driving a hybrid car no longer pays off. Market data shows that the number of full electric cars is now rapidly increasing.”

Kyra Hartlief

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About Fastned.EN

Fastned is building a European network of fast-charging stations where all electric cars can charge within 20 minutes. The stations are located at high traffic locations along the highways and in cities. This will give electric cars the freedom to drive across Europe. As of today, Fastned has 63 stations operational in The Netherlands and is working on expanding its fast charging network to the rest of Europe. Fastned is preparing the construction of fast charging stations in Germany, The United Kingdom and Belgium. Fastned is listed on the Nxchange stock exchange.

Fastned is rolling out its network of fast charging stations in response to the rapidly increasing numbers of EVs in Europe. Car manufacturers such as Tesla, Audi, Volvo, Aston Martin, BMW, Nissan, Mitsubishi, Porsche, Volkswagen, Mercedes, Ford, General Motors, Renault and other car manufacturers are investing billions of Euros in the development of, and production capacity for EVs. More and more EVs are hitting the roads, which drives the need for charging infrastructure. Fastned is responding to this development by building the service stations of the future. Co-founder and CEO Michiel Langezaal: “We are the Shell of the future, only our energy comes from the sun and the wind.”